Internet Capital Group

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Case Studies

Over the years, we have teamed up with visionary thinkers and driven management teams building breakthrough organizations that are changing the way business is done.  


Here are some examples of key successes and how ICG helped enable them:

    Overview
  • Provides web-based software and services to global higher education markets and domestic K-12
  • One of the largest providers of on-demand software overall and the de facto leader in the education market
  • Initial acquisition of interest by ICG in 1998

    ICG Value-Add
  • ICG provided first round capital of $2 million for 35% of the company in 1998
  • Purchased another $10.5 million of stock between 1999 and 2000
  • Helped build out strong management team
  • Provided operational and strategic support 

    Result
  • IPO June 2004 (BBBB) at $14 per share. The stock closed at $45.39 per share on 12/31/09.
  • ICG owned 3.1 million shares at an average cost of $4.30 per share at the time of IPO.
  • IPO in 2004, market capitalization of $950 million
  • To date, ICG has realized cash proceeds of $74.1 million from the sale of BBBB stock

    Overview
  • Leading electronic credit derivatives trading platform
  • ICG acquired original stake in CreditTrade in 2000.
  • After helping to facilitate Creditex’s acquisition of CreditTrade in 2006, ICG acquired an interest in combined company for approximately $25 million

    ICG Value-Add
  • Facilitated merger of CreditTrade and Creditex
  • Facilitated sale to IntercontinentalExchange (NYSE: ICE)

    Result
  • Creditex was sold to ICE in August 2008 for $600 million
  • ICG received proceeds of $65 million

    Overview
  • Pioneer in online affiliate marketing and world leader in web-based affiliate marketing management
  • ICG acquired 40% of the company for $30 million between 1998 and 2000

    ICG Value-Add
  • Helped build out strong management team
  • Provided operational and strategic support

    Result
  • Built one of the largest pay-for-performance affiliate marketing network on the Internet
  • Sold to Rakuten in September 2005 for $425 million
  • ICG received proceeds of $150 million